Bloomberg Crypto Analyst Predicts Deep Dive for Bitcoin, Plus Ripple and XRP, Tron, Ethereum, Stellar, Bitcoin Cash: Crypto News Alert
From a new outlook on the price of Bitcoin to the rise of XRP, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
The senior market research analyst at Bloomberg Intelligence says Bitcoin remains on a bearish trajectory.
Mike McGlone says the price of BTC could drop all the way down to $1,500. According to McGlone, the slump “was sparked by the pump for the Bitcoin Cash hard fork. That pump that began a few weeks ago got the market a bit too offsides with speculative longs playing for the good-old days. But this is an enduring bear market.”
Ripple and XRP
After passing Ethereum to become the second largest cryptocurrency by market cap, Ripple and XRP fans are talking about XRP’s odds of “flippening” Bitcoin next.
The higher $XRP climbs the more I am certain it will flip $BTC in 2019.
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— 𝕭𝖎𝖙𝖑𝖔𝖗𝖉 💮 01 (@Crypto_Bitlord) November 18, 2018
It's coming!!! #xrp #xrpthestandard #ripple #xrpcommunity #XRPcommunity pic.twitter.com/Xajuqn3Qyv
— FirePower (@FirePowerFP) November 17, 2018
Of course, not everyone is on board.
$XRP will never replace $BTC because it doesn't offer the same value proposition. It's good for what it is (cheaper and faster SWIFT) and congrats to anyone who made money off it but it's not permissionless decentralized money without masters.
— ฿TF%$D! (@CryptoHustle) November 18, 2018
For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token.
XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
Twitter chatter about XRP has nearly matched that of Bitcoin in the last couple of days, according to the latest stats from Cointrendz.
Ethereum
All Ethereum-based tokens now display automatically on Coinbase Wallet, following a new upgrade. Fiat values for all coins are also displayed automatically.
Stellar
A new stablecoin called Novatti is scheduled to launch on the Stellar network on Monday.
The coin is designed to be pegged 1:1 to the Australian dollar through the company’s licensed subsidiary, Flexewallet Pty Ltd.
Bitcoin Cash
Bitcoin Cash (BCHABC) evangelist and CEO of Bitcoin.com, Roger Ver, just gave a new interview on the recent hard fork.
Ver talks about what went down and what’s to come after the split.
Tron has released an overview of the network’s progress in the last month and a half, tracking account activity and transaction volume. It highlights Tron’s $3-million donation to Binance Charity and the network’s 38% increase in the number of accounts and more.
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